Each Consignment Pro offers and prices their services a little differently, but generally there are two types of fees involved with a consignment:
A small amount you pay upfront to cover the initial cost of inspecting, preparing, photographing, and listing your vehicle. Usually ranges from $0 to $250.
This is earned and paid to the Consignment Pro only when your vehicle sells. Consignment Pros usually determine the commission amount by using one of these most common methods:
- Flat - usually between $500 - $1,500, or
- Percent - based on % of final sale price of vehicle. You have final say on buyer offers, or
- Above & Beyond - the Consignment Pro earns anything above a pre-determined, agreed amount that you will receive from the sale. For example: If agreed amount = $10,000, list price = $11,500, and final sale price = $11,000, then you receive the agreed $10,000 and Consignment Pro earns $1,000 commission. The Consignment Pro has final say on buyer offers
Most Consignment Pros also offer a la carte services at additional cost if you want them to enhance the resale value of your vehicle and reinforce your asking price. These services include but are not limited to detailing, reconditioning, windshield repair, leather repair, dent repair, paint touchup, scheduled maintenance, new battery, new tires, and others. Your dealer may also suggest special targeted advertising listings for niche vehicles.
Documentation of Services, Fees, and Vehicle Pricing
It is important to discuss vehicle pricing, fees, and commission expectations with your Consignment Pro. Be sure to include the agreed upon terms in the written consignment agreement signed during the enrollment process. This will avoid any surprises and make your selling experience go smoothly.
Use Retail My Ride to find a Consignment Pro near you specializing in selling your type of vehicle, then contact the Consignment Pro to discuss their specific program details and requirements.